Top Factors Driving the Global Potassium Sulfate Market | Technavio

LONDON–(BUSINESS WIRE)–#Chemicals—Technavio
market research analysts forecast the global
potassium sulfate market to grow at a CAGR of over 5%
during the period 2018-2022, according to their latest report.

Rising population in developing countries is a key trend that is
expected to impact the market. The rising population in developing
countries will lead to increased demand and consumption of food and
drinks. This coupled with the rising per capita income will lead to an
increase in demand for consumer goods, which in turn will lead to the
growth of the market during the forecast period.

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In this report, Technavio analysts highlight the rising middle-class
population as a key factor contributing to the growth of the global
potassium sulfate market:

Rising middle-class population

The growing middle-class is population is expected to drive the growth
of the global potassium sulfate market. Numerous factors such as strong
economic growth and increased urbanization are helping the middle-class
population to grow. It is estimated that close to 54% of the
middle-class population will originate from APAC by 2020. This will lead
to an increase in demand for food which in turn, will lead to an
increase in demand for potassium sulfate from the agriculture industry.

According to a senior analyst at Technavio for specialty
chemicals research, “Potassium sulfate or sulfate of potash
is a premium quality nutrient required for the growth of high-value
crops. SOP has superior qualities as compared to potassium chloride or
muriate of Potash.”

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Global potassium sulfate market segmentation

This market research report segments the global
potassium sulfate market based on processes (mannheim process,
sulfate salts reaction, and salt-lake brine processing) and key regions
(the Americas, APAC, and EMEA).

APAC was the leading region for the global potassium sulfate market in
2017, accounting for a market share of close to 53%. APAC was followed
by EMEA and the Americas. The Americas is the only geographic region
which is expected to witness a slight increase in its market share
during the forecast period.

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